Getting Indian and Pakistani visas and travelling between the two is not an issue if you are not of indian or pakistani origin. Even if you are and have both visas the actual travel between the two is not a problem.

My parents are of Pakistani origin but I have travelled to India many times for business and on vacation and travelled from India to Pakistan and back - both flying and crossing the land border. It does take me longer to get an Indian visa though.

I have not been but heard a lot of good things about Sri Lanka. Those who've been describe it as 'India-lite' - India without the hassles of India. I believe there is a US$50 charge for getting pre-entry online clearance for Sri Lanka now (similar to US ESTA).